The New Zealand dollar hit A98.47c on the 31st March, setting a new record high against the Australian dollar and getting ever closer to reaching parity with the Australian dollar. The New Zealand dollar has been increasing in strength against the Australian dollar over the last five months after hitting a low of A88.80c in early November 2014.

The Reserve Bank has kept the Official Cash Rate (OCR) unchanged at 3.5 percent during its last OCR announcement (12 March) despite forecasts indicating that CPI inflation will fall to zero for the March 2015 quarter.